Aug 31, 2023   SOURCE: BusinessWire

Global Artificial Intelligence in Manufacturing Market Poised to Reach $2.2 Billion by 2028 with a CAGR of 26.3% from 2023 to 2028 - ResearchAndMarkets.com

The "Artificial Intelligence in Manufacturing Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The artificial intelligence in manufacturing market is on track to achieve a noteworthy milestone, projecting a substantial growth to an estimated $2.2 billion by 2028, accompanied by a remarkable Compound Annual Growth Rate (CAGR) of 26.3% during the forecast period from 2023 to 2028.

This growth is attributed to the emergence of Industry 4.0 and the escalating demand for automated and Internet of Things (IoT) based technologies within the manufacturing sectors.

A Promising Future

The artificial intelligence in manufacturing market presents a promising future, characterized by burgeoning opportunities across various end-user industries. These industries encompass semiconductor & electronics, energy & power, pharmaceutical, medical devices, automotive, heavy metal & machine manufacturing, fast-moving consumer goods, and aerospace & defense.

Comprehensive Market Analysis

To aid in informed business decisions, a comprehensive over 150-page report has been developed. This report provides insights into the global artificial intelligence in manufacturing market, including its segmented outlook.

Artificial Intelligence in Manufacturing Market by Segment

The study features a detailed forecast for the artificial intelligence in manufacturing market across multiple segments:

1. Component [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Hardware

    • Processors
    • Networking
    • Memory

  • Software

    • AI Platforms
    • AI Solutions

  • Services

    • Deployment & Integration
    • Support & Maintenance

2. Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Machine Learning (ML)
  • Natural Language Processing (NLP)
  • Context-Aware Computing
  • Computer Vision
  • Speech and Voice Recognition

3. Application [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Field Services
  • Quality Management
  • Cybersecurity
  • Robotics & Factory Automation
  • Predictive Maintenance & Machinery Inspection
  • Material Handling
  • Production Planning
  • Safety Planning
  • Energy Management
  • Supply Chain Optimization

4. End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Semiconductor & Electronics
  • Energy & Power
  • Pharmaceuticals
  • Medical Devices
  • Automotive
  • Heavy Metals & Machine Manufacturing
  • Fast-Moving Consumer Goods
  • Aerospace and Defense
  • Others

5. Region [Value ($B) Shipment Analysis from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

Leading Players

Key players in the artificial intelligence in manufacturing market compete based on product quality. Major market players focus on expanding their manufacturing facilities, investing in research and development, infrastructural advancements, and harnessing integration opportunities across the value chain. Notable companies profiled in this report include:

  • Alphabet
  • IBM
  • Intel
  • Microsoft
  • Nvidia

Insights and Analysis

The report presents key insights and analysis:

  • Software is projected to experience the highest growth, attributed to the rise in machine learning-powered assistants, cloud-based technologies, and learning analytics within industrial sectors.
  • The medical devices segment is poised for significant growth due to extensive integration of AI in medical devices and increasing adoption of computation and machine learning technologies for precision and error avoidance.
  • The Asia Pacific region is expected to witness substantial growth, driven by key manufacturing units, government initiatives promoting modern technologies, and the burgeoning trend of digitalization.

Distinctive Features

The report offers:

  • Market Size Estimates: Estimated value ($B) of the artificial intelligence in manufacturing market
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecasts (2023-2028) across segments and regions
  • Segmentation Analysis: Artificial intelligence in manufacturing market size across various segments, including component, technology, application, end use industry, and region
  • Regional Analysis: Artificial intelligence in manufacturing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World
  • Growth Opportunities: Analysis of growth opportunities across various segments and regions within the artificial intelligence in manufacturing market
  • Strategic Analysis: M&A, new product development, and competitive landscape based on Porter's Five Forces model

Answering Key Questions

This report addresses 11 key questions:

  1. Promising opportunities and growth prospects across segments and regions within the artificial intelligence in manufacturing market
  2. Segments poised for accelerated growth and the reasons driving this trend
  3. Regions expected to experience rapid growth and the driving forces behind it
  4. Key factors influencing market dynamics, challenges, and business risks
  5. Business risks and competitive threats within the market
  6. Emerging trends and their catalysts in the market
  7. Changing customer demands and their implications
  8. Recent market developments and the leading companies driving them
  9. Major players and their strategic initiatives for business expansion
  10. Competitive products and their potential to challenge market share
  11. Impact of recent M&A activity on the industry landscape over the last five years.

For more information about this report visit https://www.researchandmarkets.com/r/kyztti

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